The Isle of Man Registered Agent – FAQ
Do I need an Isle of Man Registered Agent ?
An Isle of Man Registered Agent is required to be appointed to each Isle of Man incorporated entity formed under the Isle of Man Companies Act 2006, the Foundations Act 2012 and the Limited Liability Companies Act 1996.
What does a Registered Agent do ?
The legal role of the Registered Agent is set out in legislation relevant to each type of company but in simple terms, their responsibility is to (i) maintain the minute books and corporate registers and (ii) deal with corporate filings required at the Companies Registry.
The Isle of Man Anti money laundering laws also require the Registered Agent (who are known locally as corporate service providers) to hold due diligence information on persons connected with the company (shareholders and directors) and also monitor the activity of each company from a money laundering point of view.
Who can become a Registered Agent ?
Acting as a Registered Agent is a regulated activity in the Isle of Man. This means that persons acting in that capacity are required to hold a Class 4 corporate services financial services licence which is issued by the Isle of Man Financial Services Authority.
Details of regulated financial services activities in the Isle of Man are set out in the Regulated Activities Order 2011 (amended 2013, 2016,2018,2019).
How can I find a Registered Agent ?
There are many corporate services providers in the Isle of Man who can set up an Isle of Man company and act as a Registered Agent. You can find them from a google search (like most things !)
However, better still, Katz & Co. can assist you by using its local knowledge to recommend a selection of reliable and reputable service providers for you to choose between.
Contact Martin Katz by telephone on +44 1624 777900 or email – [email protected] for an initial discussion about your requirements and, if appropriate an introduction.
Alternatively, read our practical guide on selecting a corporate service provider.